Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Journalist reveals inspiring story of Turkish schools in book

Ankara-based journalist Mesut Çevikalp has written a book about the little-known stories of Turkish schools opened by Turkish entrepreneurs in various parts of the world, including the moving and hardship-laden stories of education volunteers working at these schools, most of whom left a better life in Turkey with the hope of promoting universal values of peace, dialogue and peaceful coexistence with others.

On the mysterious deportations of Turkish teachers

Built over a decade ago, Lahore PakTurk International School has a state-of-the-art building with an indoor Futsal court and an auditorium that can accommodate 500 students. In 2006, General Pervez Musharraf conferred a civilian award on the PakTurk International Schools and Colleges, recognising their services to Pakistan.

Study Reveals Horrible Pattern Of Hate Speech By Erdoğan, The Chief Hatemonger In Turkey

The xenophobic feelings towards minorities, vulnerable groups, opposition figures and foreigners in today’s Turkey are being charged by country’s authoritarian leader Recep Tayyip Erdoğan who spews hate speech effectively every day, giving rise to discrimination and stigmatization of millions of people in Turkey and around the world.

The mosque-cemevi project and the settlement process

ALİ ASLAN KILIÇ, ANKARA In Muş, where I was during the final days of August for the anniversary of the Battle of Manzigert, I had the chance to speak with citizens from both Manzigert and Ağrı about the terror problem and the solution process aimed at Turkish-Kurdish peace. Last Sunday, I was in the neighborhood […]

President Gül says Turkish Olympiads ‘greatest service’ to Turkey

The president has branded the annual contest of foreign students on the Turkish language the “greatest service” to Turkey, Turkish culture and its language, as he met with contestants participating in this year’s Olympiads. President Abdullah Gül told reporters while meeting with participants of the 11th Turkish Olympiads in the Çankaya presidential palace that organizations […]

Former politicians call on candidates to publicize personal assets

One hundred politicians who previously served in Parliament, including former ministers, issued a declaration on Saturday calling on the candidates in the upcoming local elections to declare their personal assets to the public to prevent allegations of bribery and corruption.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Daily Trust Editorial: In Turkey, fresh affront on democracy

How It Feels to Be a Dissident in Turkey After the Failed Military Coup

Purges at Turkish Airlines continue after PM’s ‘witch hunt’ remarks

Turkish police brutally torture suspect over Gulen links

Kerry Tells Turkish Foreign Minister Coup Accusations Irresponsible

GYV announces the third international family policy conference

Samanyolu TV celebrates its 20th year

Copyright 2026 Hizmet News